Waraiemi Surface <9237> aims to increase the number of high-quality senior homes, which reduces the burden on caregivers. In addition to its senior home introduction service in the Tokyo, Kansai, and Kyushu regions (which accounts for 84.0% of revenue composition in 2023), it also provides senior home operation consulting service (which accounts for 16.0% of revenue composition). The Senior Life Support Service business earns revenue by referring potential residents to senior homes through partners, while the Care Prime business mainly derives income from new senior home consulting services.
As the services provided to those requiring nursing care have increased, such as through the Long-Term Care Insurance Law and non-insurance based nursing care, support for caregivers such as family members remains insufficient. Waraiemi Surface regards reducing the burden of caregiving on families as a major issue, and is tackling this large market by providing solutions. It has been listed on the Tokyo Stock Exchange Growth Market as an Impact IPO company with goals to solve social issues and environmental problems through its business purposes.
For the fiscal year ending October 2024, Waraiemi Surface plans to achieve operating revenue of 1,311 million yen, a 61.1% increase from the previous fiscal year, and operating profit of 187 million yen, a 63.2% increase. The second quarter earnings report released on June 14 showed a year-on-year increase of 85.8% in operating revenue to 576 million yen, and turned a profit with operating profit of 65 million yen. The number of referrals from medical social workers in Q2 alone increased by 12.7% YoY to 1,788 people, and the number of family conferences held doubled to 1,522 cases. There has been increasing understanding of the usefulness of family conferences, particularly among medical social workers, and cases where the pre-conference workflow can be skipped have started to increase. The Q2 performance exceeded the initial estimate of operating profit of 31 million yen due to improved productivity of existing coordinators resulting in lower operating expenses. Although the progress rate of operating profit is less than 50% due to the increase in personnel expenses in the first half of the year, it has exceeded the semi-annual plan, and expansion of profits in the second half of the year is expected.
The Impact KPI for the medium-term management policy, which ends in October 2026, includes 18,700 referrals from medical social workers (6,466 in the fiscal year ended October 2023) and 9,300 family conferences (3,296 in the fiscal year ended October 2023). The Senior Life Support market has a market potential of just over 100 billion yen, making it a defensive growth area.